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It appears LDK sellers took advantage of the pop in share price and sold into the news. LDK closed at $1.40 Thursday, just slightly above its $1.37 low point on the day. Shareholders have not been rewarded for their patience; the stock has fallen 15% in the last year, and the average analyst target price is $1.10.

I can't think of a good reason to buy this stock. However, for investors who don't mind playing the Wall Street "Lotto," LDK can be treated like a stock option.

In LDK's case, you're not losing time premium from an upcoming expiration date, but the negative cash flow that may lead to bankruptcy acts nearly the same. In a nutshell, LDK is in a race against the clock to reverse its losses.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Robert Weinstein currently blogs, mentors traders, and writes several weekly columns in Rocco Pendola's Option Investing newsletter from his home in northern Wisconsin. Robert tends to focus on the psychological importance of goals, risk mitigation, emotion, and relatively short term market exposure. With nearly 30 years of studying and investing experience, Robert has experienced the many ups and downs in the financial markets and uses the knowledge gained to maintain balance. Robert believes the best way to make money investing is to avoid losing it. The best way to avoid losing is to know what emotional traps lay in the path of investors and learning how to avoid them. Robert is a voracious reader of financial related books often completing more than one book a week while not trading or writing. Robert contributes to his blog at paid2trade.com on a regular basis with an emphasis on studying behavior finance.